St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-04

TX NOW ALL MEN BY THESE PRESENTS.
Ia That we, the undersigned have agreed
to and do hereby associate ourselves togeth
er tor the purpose OF becoming incorporated
under and pursuant to the laws of the state
of Minnesota, and to that end we do hereby
adopt and sign the following articles of in-g
corporation, viz: -
First-The name of the corporation here
by formed shall be the Sandstone ToWnsite
company, and the general nature of its bust
ness shall be the buying, owning. leasing
plating, improving. selling, mortgaging and
dealing in lands, tenements and heredita-
ments and real, personal and mixed estate in
the county of Pine and state of Minnesota
The principal place for transacting the bust
ness of said corporation shah be the city of
st. Paul, in the county of Ramsey and State
of Minnesota.
Second-The time of commencement of
said corporation shall be the 9th day of
September, 1887, and the period of its CON
tinuance shall be the term of thirty years
Thlrd-The amount of capital stock of said
corporation shall be ten thousand 1OOO0)
dollars and shall be divided into 200 1.-TWO
hundred shares of the. par value of fifty
(50) dollars each and shall be paid for in
money or such other property, real or per
sonal as the board of directors of such cor
poration may agree to accept in lieu of
money at the time of the issuance of said
stock.
Fourth-The highest amount of indebted.
ness or liability to which said corporation
shall be at any time subject shall be five
thousand t0.OUU) dollars.
Fifth-The names of the persons forming
this corporation and their places of resi-.
dence are: William II. Grant and John P.
Knowles, both residing at St. Paul, Ramsey
county, Minnesota; Fred A. Hodge and
James Hurley, both residing at Pine CITY,
Pine county, Minnesota.
SIxth-The government of said corporation
and the management of its affairs shall be
vested in a board of i've directors, who shall
be elected from and by the stockholders at
the annual meeting, to be held as provided
in the bylaws to be adopted, and the said di-
rectors, Immediately after their election. shall
organize and elect from said stockholders
president, secretary and treasurer. Said di-
rectors and officers shall respectively hold
their Office for the period of one year after
said election and until their successors are
elected and qualified. Said officers shall per-
form such duties as shall be prescribed by
the bylaws and the office of Secretary and
treasurer may be filled by the same person.
The annual stockholders meeting for the
election of board of directors, and the trans
action of such other business as
be held at the office of said cor
poraton at such time as the bylaws shall
prescribe, and special meetings of the stock
holders shall be held at such times and under
such rules and regulations as to notice or
otherwise as may be prescribed by the by
laws; and at such meetings stockholders may
be represented and vote by proxy duly APP
pointed, and at any stockholders meeting
each StockhOlder shall be entitled to one vote
for each share of stock held by him, and the
holders of a majority of the stock Shall con-
Sttute quorum at such meetings Tor the
transaction of business
The duties and compensation of the Off
GERS OF said corporation shall be fixed by the
bylaws. The bylaws of said corporation
shall be adopted by the stockholders at their
first annual meeting, or at a special meeting
to be called for that purpose, and shall be
changed. altered or amended only at an an
nual meeting of the stockholders or at spe-
clal meeting called for that purpose, but the
first board of directors may adopt bylaws
which shall continue in force until bylaws
shall have been adopted by the stockholders
as herelnbefore provided.
The first board of directors of said corpora
ton shall consist of William H Grant John
P. Knowles, Fred a. Hodge and James Hur-
ley and William 81. Grant, Jr. of whom
William III. Grant shall be president and
John p. Knowles shall be secretary and treas
urer OF said corporation and shall hold their
offlceS until the next annual meeting of:the
stockholders and until their successors are
elected and qualified.
In witness whereof we have hereunto set
our hands and seals this 9th day of Sepfem-
Der, 1887.
WILLIAM H. GRANT, 1Seal.l
JOHN P. KNOWLES, fSeal. "a.
FRED A. HODGE, fSeaIf
JAMES HURLEY, fseal
Ii. n. HERBsT, -
La FAYErTE SHAW. - - -s't-::' ,'.- 81